Bulgaria's GDP reached a Record 68 Billion Euros last year
Bulgaria's gross domestic product last year reached a record 68 billion euros, growing by 3.6% with inflation of 3.3 percent
The Bulgarian Chamber of Commerce and Industry (BCCI) has proposed abolishing dividend tax and reducing the tax rate for sole traders from the current 15% to 10%.
The proposal, which was presented Monday, is based on a survey of the BCCI indicating deterioration in companies' estimations of the business climate in Bulgaria in a number of spheres.
According to the survey, as cited by Darik radio, the estimations of Bulgarian businesses of the tax burden, the administrative fees, and the energy resources, deteriorated.
According to the BCCI, Bulgarian companies reported improvement in the sphere of infrastructure.
BCCI Chair Tsvetan Simeonov argued Monday that the dividend tax could be abolished, while the tax rate for sole traders could be reduced from 15% to 10%.
Simeonov suggested that the step would have no negative impact on the state coffers but would only bring benefits for the country.
The Chair of the BCCI reminded that sole traders were mostly small, medium, and, most frequently, micro enterprises, which he said were being given unfair treatment through the tax rate of 15%.
"This does injustice to small and medium businesses which we keep saying must be taken care of because they give rise to big companies after a certain period of time," Simeonov noted, adding that each company which had not been set up or was functioning inefficiently was an obstacle both for the entire economy and for any business aspiring to become a global conglomerate.
He reiterated that the reduction of the tax rate for sole traders from 15% to 10% and the cancellation of the dividend tax could only have a beneficial impact on the state coffers.
We need your support so Novinite.com can keep delivering news and information about Bulgaria! Thank you!
A recent national survey conducted by the Market Links agency reveals that nearly half of Bulgarians, constituting 47% of respondents, hold reservations regarding the anticipated benefits of Bulgaria's adoption of the euro
Ryanair has announced plans to base its fourth aircraft at Sofia Airport and introduce flights to five new destinations this summer season
The event will bring together esteemed local and international leaders such as Wolfgang Schüssel, former Chancellor of Austria
Bulgaria’s plan to adopt the euro and become a member of the eurozone holds far-reaching implications, especially for the economy, political scene, and international relations; the Southeast European nation is looking to improve its economic conditions an
Bulgaria's aspirations to become the 21st member of the Eurozone have sparked discussions regarding the country's economic readiness, as well as its political and institutional preparedness
The European Central Bank (ECB) has weighed in on Bulgaria's draft Law on the adoption of the euro, signaling the need for revisions to ensure alignment with European regulations
Sofia Airport's Terminal 3 Construction Set to Begin in Early 2026
COVID-19 Impact: Bulgaria's Grim Milestone as Highest Death Rate in EU